Archive for the ‘Business’ Category

A survey says 1,132 chiefs have left their posts this year amid a tough economy. By Tiffany Hsu, Los Angeles Times Staff Writer October 9, 2008 The roiling economy appears to be ripping into the ranks of upper management, pushing the chief executive turnover rate in a popular survey to an all-time high. This year, 1,132 CEOs have left their posts, according to employment consulting firm Challenger, Gray & ... Full story

From the Associated Press 7:56 AM PDT, October 9, 2008 WASHINGTON -- The Bush administration is considering taking part ownership in certain U.S. banks as an option for dealing with a severe global credit crisis. An administration official, who spoke on condition of anonymity because no decision has been made, said the $700 billion rescue package passed by Congress last week allows the Treasury Department to inject fresh ... Full story

The Fed lowers its benchmark federal funds rate to 1.5%. Other central banks also cut rates. By Maura Reynolds and Jim Puzzanghera, Los Angeles Times Staff Writers October 9, 2008 WASHINGTON -- Emergency interest rate cuts Wednesday by the Federal Reserve and five other central banks left in doubt whether government efforts to cure the financial crisis would show results fast enough to avert fresh panic and serious ... Full story

Fear of stocks, low interest rates and officials' concerted action create the setting for a possible recovery. By Michael A. Hiltzik, Los Angeles Times Staff Writer October 9, 2008 The economic prognosis is relentlessly bleak. Jobless numbers are soaring. Stocks are plunging. Your co-workers, your fellow passengers on the commuter train and even your dental hygienist are all volunteering that they've converted their 401(k) stock funds to cash. Could it ... Full story